Surmodics (NASDAQ:SRDX) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Surmodics, Inc. (NASDAQ:SRDX) saw strong trading volume on Wednesday . 237,948 shares changed hands during trading, an increase of 26% from the previous session’s volume of 188,761 shares.The stock last traded at $41.40 and had previously closed at $40.94.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SRDX. Zacks Research raised Surmodics to a “hold” rating in a research report on Tuesday, August 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Surmodics in a research note on Wednesday, October 8th. Finally, Barrington Research reaffirmed a “market perform” rating on shares of Surmodics in a research report on Monday, August 11th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $43.00.

Surmodics Price Performance

The company has a debt-to-equity ratio of 0.27, a current ratio of 3.91 and a quick ratio of 3.10. The company has a market capitalization of $591.22 million, a P/E ratio of -33.62 and a beta of 1.30. The firm’s 50-day moving average is $29.78 and its 200-day moving average is $30.84.

Institutional Trading of Surmodics

Several hedge funds have recently bought and sold shares of SRDX. Y Intercept Hong Kong Ltd purchased a new stake in Surmodics in the 2nd quarter worth $1,277,000. Nuveen LLC purchased a new stake in Surmodics during the 1st quarter valued at approximately $1,262,000. Tabor Asset Management LP bought a new stake in shares of Surmodics during the first quarter valued at approximately $2,476,000. Principal Financial Group Inc. raised its position in shares of Surmodics by 1.8% during the first quarter. Principal Financial Group Inc. now owns 36,699 shares of the company’s stock valued at $1,120,000 after buying an additional 638 shares during the last quarter. Finally, AlphaQuest LLC bought a new position in shares of Surmodics during the first quarter worth $232,000. Institutional investors own 96.63% of the company’s stock.

About Surmodics

Surmodics, Inc, together with its subsidiaries, provides performance coating technologies for intravascular medical devices, and chemical and biological components for in vitro diagnostic immunoassay tests and microarrays in the United States and internationally. It operates through two segments, Medical Device and In Vitro Diagnostics (IVD).